Govt. Amends Banking Regulation (Companies) Rules | Updates Forms VIII & X

Notification No. G.S.R. 890(E)., Dated 10.12.2025

1. Overview

The Central Government has notified amendments to the Banking Regulation (Companies) Rules, 1949, making changes to several provisions and statutory forms. The amendments streamline reporting requirements, remove obsolete references, and update terminology to reflect the present regulatory and institutional framework of the banking sector.

2. Omission of Provisions in Rule 2 and Rule 2A

2.1 Omitted Clauses in Rule 2

Certain provisions of Rule 2, which deals with definitions and interpretative elements for banking companies, have been omitted.

This removes outdated regulatory references and aligns the Rules with the amended Banking Regulation Act and modern supervisory practices.

2.2 Omission of Rule 2A

Rule 2A, which contained specific operational or reporting requirements, has also been omitted.

The omission reflects changes in statutory reporting models and simplifies compliance for banking companies by eliminating requirements that are no longer relevant under the updated regulatory framework.

3. Omission of Rule 15B

Rule 15B, which previously dealt with reporting or procedural obligations for banks, has been deleted entirely.

This removes antiquated provisions and reduces unnecessary administrative burden.

4. Amendments to Form VIII

Form VIII—used for reporting of certain statutory returns by banking companies—has been significantly revised.

4.1 Key Changes

Replaces references to “alternate Friday” with:

• “15th day of the month”, or
• “last day of the month”

This change aligns the form with modern accounting periods and the broader removal of fortnightly-based calculation systems.

Updates items relating to subsidiary banks and development financial institutions (DFIs)

These updates reflect structural changes in India’s financial sector, including:

• Merger or restructuring of subsidiary banks
• Transformation of DFIs into banks or other financial entities
• Removal of outdated institutional references

The revised Form VIII supports uniform and contemporary reporting formats for banking companies.

5. Amendments to Form X

Form X, which governs additional disclosures and reporting obligations, has also been updated.

5.1 Key Modifications

1. Omission of specified sub-items – Obsolete content and data fields that are no longer required under current RBI regulations have been removed.
2. Terminology updates

• • References to “Friday” are substituted with “day” or “last day of a month”
  • This change is consistent with the broader regulatory transition away from fortnightly reporting cycles.

These amendments ensure that reporting timelines in Form X are aligned with monthly or daily compliance frameworks, improving clarity and easing operational compliance.

6. Regulatory Intent

The amendments aim to:

• Modernise outdated statutory language
• Remove references that no longer match today’s supervisory environment
• Rationalise reporting timelines across banking legislation
• Align banking returns with standard monthly accounting practices
• Reduce administrative complexities for banks
• Support the transition away from legacy “alternate Friday” timelines after recent amendments to the Banking Regulation Act and RBI Act

7. Implications for Banking Companies

Banks must:

• Update internal reporting manuals and compliance workflows
• Revise automated reporting systems to reflect new dates (15th / last day of month)
• Ensure staff discontinuation of all “alternate Friday”-based computations
• Review and update documentation formats for Forms VIII and X
• Train compliance and finance teams on the revised procedures

Failure to update reporting processes could lead to incorrect filings or supervisory observations.

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